EURO VICTORY

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Forties-laden VLCC adds to North Sea floating storage

A very large crude carrier (VLCC) has sailed from the Hound Point, Scotland, terminal laden with Forties crude and signalling “for orders”, adding to levels of North Sea crude in floating storage. The 2mn bl ATHENIAN VICTORY was provisionally fixed by Shell to carry Forties to South Korea on 25 December, according to shipping reports.It joins the 2mn bl VLCC New Success — also laden with Forties — which has been floating offshore Dunbar, at the mouth of the Firth of Forth, since loading on 10 December. Trading firm Vitol has offered cargoes of Forties loading via ship-to-ship transfer from the New Success in recent weeks, but buying interest has been limited. The smaller 600,000bl AFLA BALTICA remains offshore Dunbar signalling “for orders”, having departed the Forties terminal at the start of November. Along with several other 600,000 bl Aframaxes — loaded mostly with either benchmark Brent or Ekofisk crude — North Sea crude in floating storage currently amounts to around 7mn bl, compared with nearer 5mn bl before the addition of the ATHENIAN VICTORY’s cargo. Source: Argus